What is ABSLI Poorna Suraksha Kawach?
ABSLI Poorna Suraksha Kawach is a comprehensive protection solution tailored to meet your financial needs and safeguard your family’s future against uncertainties. In a world full of unpredictability, the constant is your commitment to protecting your loved ones from any potential contingencies. You make every effort to provide for your family’s well-being, happiness, and security. ABSLI Poorna Suraksha Kawach offers a complete protection plan, ensuring your family’s financial future with various plan options to choose from.
Key Features
- Multiple Plan Options: Choose from a variety of plan options tailored to your specific needs.
- Inbuilt Terminal Illness Benefit: Coverage includes a benefit for terminal illnesses.
- Accelerated Critical Illness Benefit: Protection against 42 listed critical illnesses.
- Emergency Exit Value: Option to avail a ‘One-time exit value’ for emergencies.
Benefits of ABSLI Poorna Suraksha Kawach
ABSLI Poorna Suraksha Kawach provides a straightforward term plan that ensures financial security for you and your loved ones against unforeseen events.
Plan Options
This term plan includes Riders for added protection, allowing you to enhance your insurance coverage during the Policy Term at a nominal extra cost.
How does ABSLI Poorna Suraksha Kawach work?
Example:
Mr. Gupta, a 35-year-old non-smoker, purchases ABSLI Poorna Suraksha Kawach and opts for a level cover option with a sum assured of ₹1 crore. He selects a policy term of 50 years with a 10-year premium payment term. If Mr. Gupta dies during the 25th policy year, his nominee/family will receive a lump sum assured on death amounting to ₹1 crore.
Eligibility and Plan Options
- Plan Options 1 and 5
- Premium Paying Term: Single Pay or 5 Pay options available
- Minimum Policy Term: 5 years
- Maximum Policy Term: 55 years
- Entry Age: 18 – 65 years
- Maximum Maturity Age: 85 years
- Sum Assured: Minimum ₹25 Lakhs; Maximum – No Limit (subject to Board Approved Guidelines)
- Plan Options 2, 3, and 4
- Premium Paying Term: Single Pay, 6 Pay, 8 Pay, or 10 Pay options available
- Minimum Policy Term: 20 years
- Maximum Policy Term: 55 years
- Entry Age: 18 – 65 years (varies slightly with the plan option)
- Maximum Maturity Age: 85 years
- Sum Assured: Minimum ₹25 Lakhs; Maximum – No Limit (subject to Board Approved Guidelines)
- Plan Option 6
- Premium Paying Term: Single Pay or 5 Pay options available
- Minimum Policy Term: 11 years
- Maximum Policy Term: 55 years
- Entry Age: 18 – 65 years
- Maximum Maturity Age: 85 years
- Sum Assured: Minimum ₹25 Lakhs; Maximum – No Limit (subject to Board Approved Guidelines)
Why invest in ABSLI Poorna Suraksha Kawach?
1. Multiple Plan Options: Choose from various plan options to suit your diverse life insurance needs.
2. Return of Premium (RoP) or Early Return Of Premium Option (ERoP): Secure your savings along with life insurance coverage through RoP or ERoP options.
3. Flexibility: Avail a ‘One Time Exit Value’ and recover your premiums paid as a reliable support system during emergencies.
4. Accelerated Critical Illness Benefit (ACI): Additional coverage for 42 specified critical illnesses with the payment of an extra premium.
What’s not Covered under ABSLI Poorna Suraksha Kawach?
1. Suicide Exclusion:
- If the Life Insured dies due to suicide within 12 months from the Risk Commencement Date or the date of revival of the Policy, the Policy terminates immediately. The company will pay the following to the nominee:
- If the Policy has acquired the surrender value/unexpired risk premium value, the higher of the two values or the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes till the date of death.
- If the Policy hasn’t acquired the surrender value/unexpired risk premium value, the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes till the date of death.
2. Terminal Illness Benefit Exclusion:
- The Life Insured will not be entitled to any Terminal Illness benefit if it is caused by intentional self-inflicted injury or attempted suicide, whether medically sane or insane.
How to Initiate a Claim?
ABSLI Poorna Suraksha Kawach makes the claim process easy with just three simple steps, all online:
- Fill in basic details